Sui Group, in collaboration with Ethena, a DeFi synthetic dollar protocol, and the Sui Foundation, are launching suiUSDe, a Sui-native synthetic dollar token, and USDo, a stablecoin supported by BlackRock USD Institutional Digital Liquidity Fund (BUIDL) tokenised money market fund.
Ethena is the protocol behind USDe, and has exceeded US$14.8 billion in total value locked and backs one of the biggest user bases of a DeFi protocol, with integrations across key centralised exchanges and large DeFi applications.
The suiUSDe and USDi initiatives set up SUI Group as the first publicly-traded digital asset company to originate and unveil stablecoin infrastructure, building a new framework for incorporating on-chain stablecoin issuance with public-market access.
According to the firms, it is the first stablecoin launched from a partnership between a publicly traded DAT, a blockchain foundation and a stablecoin issuer, with suiUSDe and USDi anticipated to go live before 2026.
It will set up both stablecoin to steer broader adoption and real-world utility for on-chain financial products, increasing accessibility to US users and further.
Marius Barnett, chairman of SUI Group, says: “With the launch of suiUSDe and USDi, SUI Group is evolving beyond a traditional DAT company to become an infrastructure builder with a long-term vision of creating a next-generation ‘SUI Bank’, that functions as a central liquidity hub for the ecosystem.
“We believe this initiative will add another powerful mechanism to drive liquidity, utility, and long-term value across the Sui blockchain, while positioning SUIG as one of the first publicly traded gateways to the global stablecoin economy. By unlocking new revenue streams tied to stablecoin adoption and transaction flow, we are focused on delivering scalable economic value for our shareholders.
Read more on Asset Servicing Times
